The Cost of Liability Risk
In this podcast, you’ll hear from Rebecca Toffolon, JD from CNA’s Accountants Professional Liability Claims department. CNA provides insurance solutions that many CPA firms rely on to better manage their risks and grow profitably, and their extensive claim history reads like a roadmap of CPA firm liability risk areas on which to focus. Prior to joining CNA, Rebecca was in private law practice and in addition to her law degree, Ms. Toffolon has an M.S. in Negotiation and Conflict Resolution from Columbia University.
Rebecca and Steve will take listeners through some eye-opening numbers from claim data and will discuss key insights for CPA firms that can be gleaned from this information.
Rebecca Toffolon, JD, Assistant Vice President, Accountants Professional Liability Claims, CNA
Steven A. Menges, Product Team – Assurance, CPA.com
- Lawsuits and claims and potential claims (oh my!)
- The “Pain Period” – a new statistic every firm should know
- Severity: How much, why, and who; key indicators for which to watch (and avoid
Here are links to AICPA and other guidance and other explanatory content on the topics discussed in this episode:
- Engagement Letters: Foundational Best Practices podcast episode with Stan Sterna, JD, Vice President, Aon Insurance Services and Sarah Ference, CPA, Risk Control Director, Accountants Professional Liability, CNA
- Privity in Third-party Audit Claims podcast episode with Stan Sterna, JD, Vice President, Aon Insurance Services
- “Be Aware or Beware: Common Indicators of High Severity Claims” OnDemand webinar presented by Sarah Ference, CPA and Rebecca Toffolon, Esq.: Webinar Download (83 MB wmv)